United States, Texas, Austin - 02/03/2020 (PRESS RELEASE JET)
AUSTIN, TX – February 3, 2020 – Austin-based online festival community and magazine, Everfest, the festival authority, has announced that it has completed its sale to Austin-based live entertainment pricing and distribution company, Qcue. Terms of the deal are undisclosed.
Founded in 2014, Everfest, was backed by ATX Venture Partners and Live Nation. It has grown into one of the world’s leading festival destination sites. Named one of the most innovative companies in live entertainment by Fast Company, Everfest features over 20,000 festivals and a vibrant online community of fans, vendors, artists, and festivals. Everfest also produces the festival guide and magazine, Fest300.
“We are proud of what Everfest has been able to accomplish over the last six years. We have built the world’s largest aggregation of festival events and have become a trusted partner to vendors around the ecosystem. This merger with Qcue was a great opportunity for both our team and our customers,” said Jay Manickam, co-founder of Everfest. “To keep the business in Austin, while also allowing Everfest to partner with a company with a decade-plus track record of changing the face of the live entertainment ticketing business was too good an opportunity to pass up. We are incredibly excited for the road that lies ahead.”
While most of the Everfest team will continue on with Qcue, Manickam is moving on to be Chief Strategy Officer of Hitch and Everfest CEO Adam Greenspan will join WastePlace as Chief Growth Officer.
According to Greenspan, “Qcue has a reputation for innovation in the industry. We have just scratched the surface on what Everfest is capable of in terms of providing value to everyone in the festival ecosystem. To combine that platform with a company that has been widely recognized as one of the most innovative in the world is sure to yield amazing results for everyone involved.”
For Qcue, this acquisition represents an expansion into the festival space from a customer base that has been sports focused since its founding in 2007. It also represents a broadening of its value proposition in the entertainment landscape outside of dynamic pricing and distribution. Together with its recent strategic partnership with AnalytixLive in the performing arts space, Qcue is rounding out its offerings both in terms of verticals and its place in the ecosystem.
“There is a lot to love about the Everfest business,” said Barry Kahn, CEO of Qcue. “They have created a digital community where one did not previously exist. The millions of people that visit everfest.com is a testament of the market that Jay and his team found. We are looking forward to continuing to grow the Everfest brand and continuing to be a trusted resource and service provider for festival-goers, festivals, vendors, and artists.”
Everfest is a market leader in festival discovery and a community for festival fans globally. The Everfest platform gives festival organizers another channel for ticket sales, and connects vendors, artists, sponsors and volunteers to new opportunities.
For more information, visit www.everfest.com
Qcue created the world’s first dynamic pricing engine for live entertainment events, forever changing the way sports and entertainment tickets are priced. Twice named one of the 10 Most Innovative Companies in Sports and one of the 50 Most Innovative Companies in the World, Qcue’s pricing and revenue management solutions are used by sports teams, performing arts organizations, venues, and promoters around the world.
For more information, visit www.qcue.com
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